June ALERT 2024

ISSUE 6

ALERT

Opposing Expansion of the Community Reinvestment Act (CRA)

Mid-Year Musings

Where do things stand in Washington in June of an election year?

Advocacy Reimagined DCUC is engaging with our membership, as well as joint trade leagues, ensuring the defense credit union movement is heard loud and clear.

JUNE 2024

DCUC Names Jim Hayes as DCUC Board Member DCUC NEWS

ALERT

DCUC is the trusted resource for credit unions on all military and veteran matters.

DCUC Latest Accomplishments

• DCUC sent letters to:

• the HSGAC Permanent Subcommittee on Investigations ahead of the hearing titled: Fraud Alert: Shedding Light on Zelle:

• the Banking, Housing, and Urban Affairs Committee, U.S. Senate: “Consumer Protection: Examining Fees in Financial Services and Rental Housing”*

• the Committee on Financial Services, United States House of Representatives, and the Banking, Housing, and Urban Affairs Committee, U.S. Senate: the committee hearing on “Oversight of Prudential Regulators.”*

• DCUC’s 2024 Hall of Honor inductees has officially been announced! See page 8 for this year’s selected nominees!

• The DCUC board officially appointed Jim Hayes, SDFCU president/CEO, to the open Marine Corps Representative director position; see page 10.

• DCUC recently concluded another successful DCUC Board meeting

• DCUC continues to focus on expanding member value and the needs of DCUC members

DCUC Happening Now

Continuing to oppose:

• Passage of Credit Card Competition Act (CCCA) in all “must pass legislation” in both houses of Congress*

• Proposed legislation to amend the 2025 NDAA: Overseas Military Banking Program, 32 CFR Part 230.4 “One Bank & One Credit Union”*

• DCUC continuing to lead with the Military Banking Program Improvement Act of 2024*

• DCUC is leading the opposition to Senator Elizabeth Warren’s American Housing and Economic Mobility Act of 2024 which is expected to be introduced before the 4th of July.

DCUC Upcoming Activities

• DCUC successfully led a free, educational webinar: “Strengthening Advocacy for Your Military & Veteran Members and Their Families,” cohosted by CUInsight on May 29, 2024: Missed the webinar? View the webinar here.

• Secure your spot: DCUC’s 2024 Annual Conference: August 12–16 at the Vinoy Resort & Golf Club in Saint Petersburg, Florida: Book your room before they sell out!

• Save the Date: DCUC’s Mid-West Sub-Council Conference will be held from October 8–10, 2024, in Davenport, Iowa.

• Save the Date: DCUC’s 2nd Quarter Military Advocacy Committee (MAC) meeting will be held June 27, 2024, at 2:30 PM EST.

• DCUC Active Member Credit Unions: join the meeting by contacting nrogers@dcuc.org

*see “Advocacy in Action” on page 6 for more details!

SERVING THOSE WHO SERVE OUR COUNTRY

DEFENSE CREDIT UNION COUNCIL, INC.

BOARD OF DIRECTORS

Chairman

Jack Fallis

1st Vice Chairman

Maggie Sayer

2nd Vice Chairman

Frank Padak

Secretary

Ryan Ross

Treasurer Ron Aoki

Member

Jim Hayes

Member

Robin Larsen

COUNCIL STAFF

President/CEO

Anthony Hernandez

Chief Advocacy Officer

Jason Stverak

Vice President, Operations and Membership

Beth Merlo

Marketing Specialist

Christa Dittus

Communications Specialist

Haleigh Laverty

Director of Conferences and Events

Suzanne Low

Executive Assistant

Natalie Rogers

CEO UPDATE Opposing Expansion of the Community Reinvestment Act (CRA)

REGISTER NOW!

DCUC 2024 Annual Conference

DCUC ADVOCACY IN ACTION

Advocacy Reimagined

CAPITAL CORNER

Mid-year Musings

DCUC NEWS

DCUC Names Jim Hayes as DCUC Board Member

DCUC Announces 2024 Hall of Honor Inductees

AWARDS & RECOGNITION

CREDIT UNION PEOPLE IN THE NEWS

CREDIT UNIONS IN THE NEWS

MEMBER NEWS

Opposing Expansion of the Community Reinvestment Act (CRA)

Provided by Anthony Hernandez, DCUC President/CEO

As you all know, DCUC has been actively defending the industry’s tax exemption amidst a concerning amendment proposed in the 2025 National Defense Authorization Act (NDAA). This effort involves numerous phone calls, meetings, grassroots campaigns, emails, and letters. It is worth every minute, and it is our honor to stand by and support our member credit unions.

While DCUC remains focused on protecting credit union tax exemptions, another bill is set to make its way through the House and Senate later this month. Despite having some provisions that DCUC would strongly support, the American Housing and Economic Mobility (AHEM) Act of 2024, sponsored by Senator Elizabeth Warren & Congressman Emanuel Cleaver, also includes concerning language and proposed regulations. The official bill text and summary can be found here.

One of the policy provisions that DCUC would strongly support would be the proposal to extend eligibility for VA home loans for first-time buyers, specifically to those who are direct descendants of certain veterans. DCUC finds this to be especially important since many of these veterans were unable to use their guaranteed home loans due to racial inequities over the years.

DCUC would also support the bill’s call to increase investments in key housing programs, including the Public Housing Capital Fund, the Native Hawaiian Block Grant Program, and several rural housing programs. Many beneficiaries are veterans who need support. Plus, it makes sense considering that many of these areas are either neglected or face challenges due to nearby multimillion-dollar estates driving up property values which in turn makes housing unaffordable.

We expressed our support for these policy initiatives in our meeting with Senator Warren’s office on May 30, 2024, and received a positive response from the Senator’s office following our meeting.

However, DCUC did not hesitate to draw a strong red line when discussing Section 204 in the Senator’s proposed bill. If this section is approved as part of a final amendment, DCUC believes it would increase scrutiny through CRA examinations and public hearings for credit unions with more than 100,000 members. The potential impact of these proposed regulations still remains unclear, especially in regard to different types of charters. Thus, the language leaves final rulemaking in the hands of the NCUA and grants a one-year period before implementation.

Of note, the impact would extend to credit unions with 75,000 members as it would force them to consider the consequences of increasing their membership due to potential mergers and bank acquisitions. As with any regulations, once implemented, DCUC anticipates the floor will drop even lower since CRA already applies to all banks. Once this legislation passes, let’s just say adverse consequences tend to follow.

To be frank, this is unacceptable to DCUC and its member credit unions. We were very clear about our opposition in our meeting with Senator Warren’s office. And even though we said we could not support any CRA legislation that would expand to credit unions, Senator Warren’s office acknowledged our role as a trade association and appreciated our candor.

Here is our recent comment in the press regarding the bill: (read the full article here)

Anthony Hernandez, DCUC President/CEO

“Credit unions have an exemplary record of member service to stand on. This is why Congress has not seen fit to impose punitive CRA requirements on them, and there’s no reason to do so now. “

“The member-centric structure of credit unions is the right model to ensure that consumers are treated fairly.”

A strong, collaborative effort in opposing this bill is needed to rally credit union supporters on Capitol Hill and ensure its defeat on the floor. A “soft opposition” approach suggests acceptance, and we would never negotiate a bad deal to curry favor on future legislation. When the bill is introduced at the end of the month, DCUC will mobilize another grassroots effort to defeat this bill. Stay tuned for updates.

In the meantime, I want to thank each of you for your efforts and support these past few weeks. Your involvement and contributions are vital to our success and as always, thank you for your commitment to serving those who serve our country. n

DCUC ADVOCACY IN ACTION

Advocacy Reimagined

Provided by Jason Stverak, DCUC Chief Advocacy Officer (CAO)

DCUC is already making strides in reimagining its advocacy to meet the changing and growing needs of all credit unions serving our Nation’s military and veterans. We are actively engaging with our entire membership, as well as joint trade leagues, ensuring the defense credit union movement is heard loud and clear. DCUC remains committed to ensuring the financial needs of our nation’s military and veterans are protected and served at the local, state, and federal levels.

Recent Action…

• DCUC sent a letter to The Honorable Richard Blumenthal, Chairman, and The Honorable Ron Johnson, Ranking Member, of the HSGAC Permanent Subcommittee on Investigations ahead of the hearing titled: Fraud Alert: Shedding Light on Zelle: –– DCUC’s letter shared how credit union members, especially those that are military, veterans, and family members of the armed forces, rely on services such as Zelle to make payments and move funds securely from their credit union accounts to other businesses and people.

• DCUC sent a letter to the Honorable Sherrod C. Brown, Chairman, and the Honorable Tim E. Scott, Ranking Member, of the Banking, Housing, and Urban Affairs Committee, U.S. Senate: –– DCUC provided its response to the committee hearing on “Consumer Protection: Examining Fees in Financial Services and Rental Housing,” supporting credit union industry counterparts’ concerns regarding “government overreach in determining fees at individual credit unions.”

• DCUC sent a letter to The Honorable Patrick McHenry, Chairman, and The Honorable Maxine Waters, Ranking Member, of the Committee on Financial Services, United States House of Representatives, and a letter to the Honorable Sherrod C. Brown, Chairman, and the Honorable Tim E. Scott, Ranking Member, of the Banking, Housing, and Urban Affairs Committee, U.S. Senate.

–– In both letters, DCUC provided its stance ahead of the committee hearing on “Oversight of Prudential Regulators.” DCUC emphasized its concern when consumers, especially young, enlisted service members, and veterans, are subjected to unfair and deceptive trade practices; DCUC also noted the intended and unintended restrictions the CFPB’s proposed new rule would put in place and the adverse impacts it would bring to these important communities.

• DCUC continued to emphasize the importance of the Veteran Member Business Loan exemption

Jason Stverak, DCUC Chief Advocacy Officer

Happening Now…

• DCUC is continuing to lobby against the passage of Credit Card Competition Act (CCCA) in all “must pass legislation” in both houses of Congress

• DCUC continued its strong opposition of proposed legislation to amend the 2025 NDAA: Overseas Military Banking Program, 32 CFR Part 230.4 “One Bank & One Credit Union”

• DCUC sent two letters ahead of both the House and Senate’s markups of 2025 NDAA: proposed amendment would call for changes to FCUA: poses great risk to CU Tax Exemptions, industry-wide ramifications

• Military Banking Program Improvement Act of 2024: DCUC continues to meet with members of Congress; proposed legislation is gaining support and being well-received

Looking Ahead…

• DCUC is leading the opposition to Senator Elizabeth Warren’s American Housing and Economic Mobility Act of 2024 which is expected to be introduced before the 4th of July.

–– Section 204 of the bill would impose CRA requirements on Credit Unions with greater than 100,000 members. This would impose greater regulatory burdens on credit unions which is not acceptable.

–– DCUC remains the only credit union trade association that has spoken our publicly against the bill. “Credit unions have an exemplary record of member service to stand on. This is why Congress has not seen fit to impose punitive CRA requirements on them, and there’s no reason to do so now," said Tony Hernandez, president and CEO of the Defense Credit Union Council. “The member-centric structure of credit unions is the right model to insure that consumers are treated fairly.” Read more about DCUC’s stance featured on CUToday.com n

Mid-year Musings

Provided by John McKechnie, III

Where do things stand in Washington in June of an election year? Good question. Capitol Hill is treading legislative water in preparation for fall campaigning, which means neither party wants to pass bills that could help the other party.

But regulators still have their pens out and are working to finish old business and start a new to-do list.

DCUC is on patrol, and flags several issues:

CFPB became a flashpoint (as usual) during the markup of a House spending bill in early June, giving the GOP a talking point in their ongoing battle against the consumer regulator. Following a recent Supreme Court ruling upholding the CFPB’s funding structure, language that subjects the CFPB to the congressional appropriations process and creates a 5-member CFPB board was approved in Committee and is waiting for action in the full House. It will not pass the Senate.

My two cents: This episode shows just how much of a partisan flashpoint CFPB is, and probably always will be. It is amusing to see members of Congress who always insist on transparency and accountability in every corner of the federal government suddenly become advocates for a bureaucratic black box when it comes to CFPB.

McKechnie, III, DCUC’s Strategic Partner

Separately, a class-action lawsuit filed in California against a credit union may provide a glimpse of the potential dangers to credit unions in deploying AI to serve members. The suit alleges that the credit union has allowed an AI vendor to analyze and record his call without permission. The vendor then uses information from those calls to train the AI functions of the company.

The request carries a 60-day comment period.

Lesson(s) for all credit unions: be extra transparent, and expect increasing scrutiny of your AI activities by regulators and the courts.

On the horizon: Artificial intelligence (AI), and the ever-expanding role that it will play for credit unions and other financial service providers, is the subject of an aggressive new Treasury campaign to find out how the technology can and will be used.

Treasury is seeking input from credit unions, consumers, investors, financial firms and regulators, in two main areas: 1.) use of AI by financial firms in offering products to customers, and 2.) managing risk.

The merchant lobby may have failed to pass their controversial credit card price control bill (CCCA), but they sure keep trying. Even to the point of embracing a CFPB report that government should control prices…on everyone except the retail industry.

Their latest email blast to the Hill celebrated CFPB’s report recommending cheap, unreliable and non-secure payment networks. This was met with a stinging response from a senior House staffer: “until now I’ve never met a business owner who supports the CFPB.” DCUC was told by another lawmaker that the “spectacle of free market worshiping small businesses suddenly calling for the government to dictate how products are delivered is a sad commentary.”

In making the rounds on the Hill, it’s pretty clear that a.) most Republicans continue to be opposed, b.) Democrats seem split, and c.) the retailers aren’t letting up.

Merchant groups ranging from National Retail Federation and the National Grocers Association to the Bowling Alley Operators of America, are hitting the Hill hard. And will continue to through the end of this Congress—DCUC is pushing back, and extolling the virtues of fast, safe and efficient payment services. n

John

DCUC Names Jim Hayes as DCUC Board Member

DCUC is proud to announce Jim Hayes, State Department FCU (SDFCU) president/ CEO, has been officially appointed to DCUC’s Board of Directors. Prior to SDFCU, Hayes served as President/CEO of $50B State Employees’ CU (SECU), headquartered in Raleigh, North Carolina, and $2.3B Andrews FCU (Andrews Federal) headquartered in Suitland, MD. Hayes brings extensive leadership experience and has guided financially strong credit unions while prioritizing service to members, including our Nation’s military and veterans, stateside and abroad.

In addition to his 27+ years of credit union management experience, Hayes also served as the Capital Markets Specialist and Corporate Examiner for the National Credit Union Administration (NCUA), a Federal Thrift Regulator for the Office of Thrift Supervision, and an auditor with Deloitte & Touche.

Having served in the U.S. Army Military Police Corps, Hayes understands the importance and value of the DCUC ethos, “serving those who serve our country.”

Hayes attended college at the University of Southern California, where he received his Bachelor of Science degree, and gained his Master of Science degree from the University of La Verne. Additionally, Hayes has completed the National Security Seminar, Army War College, and executive education at MIT and Stanford University.

Hayes, DCUC Board Member, Marine Corps Representative, President/CEO, State Department FCU (DC)

Hayes currently serves on the Credit Union Executive Society (CUES) Board of Directors, the Filene Advisory Board, and the ALM First Advisory Board. He previously served on the Maryland Chamber of Commerce Board and has been an honorary commander and a Community Ambassador for Joint Base Andrews.

DCUC Board Chair Jack Fallis shared “Jim Hayes is a wonderful addition to the DCUC Board of Directors. The Board looks forward to working with Jim as we grow in the future.”

“DCUC is thrilled to have Jim join the DCUC Board of Directors. We’ve always valued working alongside Jim, who is recognized throughout the industry as a leading voice on all credit union issues,” said Anthony Hernandez, DCUC president/CEO. “We are confident Jim will make a great addition to DCUC’s Board with his many years of credit union leadership and dedication to serving our nation’s diplomats, military and veterans.”

“I am deeply honored by the opportunity to serve on DCUC’s Board of Directors,” said Hayes. “As a credit union that primarily supports diplomacy and diplomatic missions, State Department FCU also serves military and veteran members. I look forward to joining DCUC’s mission of championing its members’ success when serving these important communities.”

To learn more about DCUC’s Board, please visit dcuc.org/board n

Jim

DCUC NEWS

DCUC Announces 2024 Hall of Honor Inductees

The Defense Credit Union Council (DCUC) officially announces Elijah “Bennie” Roberts, Director Emeritus, Andrews FCU; Edward Marvin, Director Emeritus, RandolphBrooks FCU; and Charlie Miller, First Vice-Chair, Board of Directors, Redstone FCU have been selected to join the DCUC Hall of Honor.

These three honorees have an impressive history of service and dedication to their military and veteran communities, and DCUC is proud to recognize each of their contributions to the defense credit union difference.

Elijah “Bennie” Roberts has dedicated over 32 years to serving Andrews FCU, demonstrating exceptional leadership and commitment. As a longstanding board member, he played pivotal roles in strategic planning, policy development, and expansion into international markets, contributing to the credit union’s remarkable growth from $432 million to $2.5 billion in assets. His expertise ensured sound financial management, leading to minimal audit comments and prestigious awards for service excellence. Beyond his credit union endeavors, Roberts’s 33-year Air Force career and subsequent civilian role showcase his unwavering dedication to supporting service members and their families. Today, Roberts continues his service with the Department of the Air Force, employed as a Senior Analyst in the Directorate of Logistics, Deputy Chief of Staff, Logistics, Engineering, and Force Protection at the Pentagon. He is a recognized logistics expert throughout the DoD. He remains a passionate advocate for military communities worldwide, embodying the ethos of “People Helping People” and earning recognition as a nominee for the Defense Credit Union Council’s 2024 Hall of Honor.

“

Each of these three honorees exemplifies the essence of the credit union ethos. They have committed themselves, both in their personal and professional lives, to securing the financial well-being of our armed forces and veterans, and amplifying the collective influence of the defense credit union movement.

—— Anthony Hernandez, DCUC president/CEO

Edward Marvin’s contributions to both the U.S. military and the credit union industry are exemplary of service and dedication to others. Marvin brought a notable impact to Randolph-Brooks FCU (RBFCU), serving on the RBFCU Board of Directors since 2002 and holding various key positions that drove their success in many fundraising and advocacy efforts. Marvin’s extensive involvement in the military and financial sectors greatly supported RBFCU’s mission and led to RBFCU’s accolades such as the USAF’s Distinguished Air Force Credit Union. Additionally, Marvin’s community engagement, including leadership roles in organizations like the Military Officers Association of America and Lions Club, demonstrates his commitment to service beyond the credit union sphere. His extensive contributions, continued on page 10

DCUC NEWS

from advancing RBFCU’s growth to championing veterans’ initiatives, underscore his remarkable impact on both the credit union movement and the broader community, earning him prestigious awards and DCUC’s recognition for his exemplary service.

Charlie Miller’s 36-year tenure with Redstone FCU, and over 30 years of service to our Nation’s Army Corps, showcases an unwavering commitment to serving military personnel, veterans, and the community. Miller was recruited by Redstone’s Credit Advisory Committee in 1987 when the credit union wished to better advocate for soldiers during lending processes. During his service to country, Miller was the Command Sergeant Major of the Army Ordnance Missile and Munitions Center and School, located at the Redstone Arsenal, and was later inducted into the U.S. Army Ordnance Hall of Fame. From his initial role advocating for soldiers’ financial needs to his leadership as First Vice-Chair of the Board of Directors, Miller’s influence has been transformative. Under his guidance, Redstone’s membership swelled from 124,327 to over 800,000, with assets growing exponentially to $7.5 billion. Beyond his credit union service, Miller’s dedication to veterans earned him accolades such as the Veteran of the Year Award from the Alabama State Council and recognition for his role in founding and leading the Huntsville Chapter 1067 of the Vietnam Veterans of America. His tireless advocacy for financial education, community engagement, and veteran support sets a standard of excellence in both the credit union industry and the broader community. DCUC recognizes Miller’s commitment to helping others, particularly veterans and underserved communities, which has left an indelible mark on the defense credit union community and beyond.

These three honorees were selected from a very competitive field of nominees by the Hall of Honor Selection Committee. The Selection Committee is made up of four members representing both executive and volunteer leadership: Ronald Belle, AmeriCU CU, president/CEO; Fred Salyers, Security Service FCU, Vice President Governmental and Military Affairs; Ryan Ross, Soarion CU, president/CEO, DCUC Board Secretary; and Gary Yonamine, Schofield FCU, Board Member.

Roberts, Marvin, and Miller will be inducted into the DCUC Hall of Honor during the DCUC Annual Conference in St. Petersburg, Florida, held from August 12–16, 2024. DCUC looks forward to formally recognizing their achievements and celebrating their commitment to the defense credit union movement.

“Each of these three honorees exemplifies the essence of the credit union ethos. They have committed themselves, both in their personal and professional lives, to securing the financial well-being of our armed forces and veterans,” remarked Anthony Hernandez, DCUC president/CEO, “and amplifying the collective influence of the defense credit union movement.”

The DCUC Hall of Honor was established in 2000 to recognize those individuals whose exceptional contributions over the years have made a significant difference to DCUC and the defense credit union community. This prestigious award highlights the outstanding accomplishments of leaders, volunteers, management, and staff alike, whose efforts and endless support of the credit union movement and DCUC epitomize the Council’s values and philosophy of “Serving Those Who Serve Our Country.”

To learn more about DCUC’s Hall of Honor, please visit dcuc.org/hoh. n

PenFed CU Wins Two Awards at 30th Annual Communicator Awards

PenFed gains recognition in General Finance Services Excellence and General Self Promotion Distinction

Provided by PenFed CU

PenFed CU announced that its marketing team earned two awards at the annual Communicator Awards. The PenFed Roadshow Video earned accolades in the General Financial Services and General Self Promotion categories.

The PenFed Roadshow Video was created to quickly showcase the organization’s mission and capabilities. It is used to introduce PenFed to new audiences and members and has been featured as part of presentations given by PenFed leaders at top industry events.

“My team and I are always looking for ways to hone our craft and tell PenFed’s story with greater clarity and impact,” said Gaurav Bhatia, PenFed’s Chief Marketing Officer. “We’re proud to have our work recognized by the prestigious Communicator Awards and eager to continue sharing what PenFed is all about.”

Fortera CU Earns 2024 Great Place To Work Certification™

Provided by Fortera CU

Fortera CU is proud to be Certified™ by Great Place To Work® for the second year in a row. The prestigious award is based entirely on what current employees say about their experience working at Fortera. This year, 91% of employees said it’s a great place to work—34 points higher than the average U.S. company.

Great Place To Work® is the global authority on workplace culture, employee experience, and the leadership behaviors proven to deliver market-leading revenue, employee retention, and increased innovation.

“Great Place To Work Certification is a highly coveted achievement that requires consistent and intentional dedication to the overall employee experience,” says Sarah Lewis-Kulin, VP of Global Recognition at Great Place To Work. She emphasizes that Certification is the sole official recognition earned by the real-time feedback of employees regarding their company culture. “By successfully earning this recognition, it is evident that Fortera Credit Union stands out as one of the top companies to work for, providing a great workplace environment for its employees.”

“As our most cherished asset, Fortera Credit Union places the utmost priority on our employees’ well-being. We are honored to again achieve the Great Place to Work® Certification in 2024 reflecting our employees’ confidence and satisfaction in the Fortera experience. Fortera owes its continued success to our dedicated team who empower each other, our members, and our communities to achieve their goals. We celebrate and thank them for the life-changing impact they create,” said Jennifer Ventimiglia, president/CEO of Fortera CU. n

CREDIT UNION PEOPLE IN THE NEWS

BILOXI, MI—Keesler FCU has named Joshua Brown as COO of the organization’s retail division, call center, and training.

CLARKSVILLE, TN—Fortera CU is pleased to announce the appointment of Nathan Brown as CFO.

PAPILLION, NE—Cobalt CU is pleased to announce the appointment of Terry Zitkovich as the organization’s new SVP of Lending. Zitkovich will oversee all loan functions, credit risk management, and strategic planning.

PENSACOLA, FL—PenAir CU (PenAir) announces four new internal promotions and three new hires, all to the AVP and VP level. The 2024 promotions and new hires include: Victoria Cheatham, promoted to VP of Risk Management; Debbie Kemp, promoted to VP of Credit Resolution; Whitney Smith, promoted to AVP of Learning & Development; Mark Vanderhaden, promoted to AVP of Project Management; Laura Barody, new hire to AVP and Controller of Subsidiary Accounting; Laurie Clearman, new hire to AVP of HR; Eve P. Nimkar, new hire to VP of Marketing.

CREDIT UNIONS IN THE NEWS

BILOXI, MI—Keesler FCU officially announces the Biloxi baseball stadium will now be named Keesler Federal Park. Keesler Federal made the announcement after acquiring the stadium’s naming rights, which were approved by the Biloxi City Council.

NOBLESVILLE, IN—Financial Center First CU has announced the construction of a new banking center at 146th Street and Hazel Dell Crossing, planned to open in late August 2024. This state-of-the-art location will be Financial Center’s first location in Hamilton County and serve as a hub for financial wellness, reflecting the Credit Union’s commitment to bringing high-quality, personalized financial products and advice closer to its members’ homes.

LITTLE ROCK, AR—Arkansas FCU announced its expansion into Northeast Arkansas with the purchase of a location at 3313 East Johnson Avenue in Jonesboro. This marks the credit union’s first location in Northeast Arkansas and 22nd overall in Arkansas. Construction is expected to be completed by the end of 2024.

SUMTER, S.C.—The investment service division of SAFE FCU was renamed SAFE Investment Services effective May 1. Formerly known as MEMBERS™ Financial Services, SAFE Investment Services works directly out of the credit union’s branches to give SAFE FCU members access to advanced money management options.

VACAVILLE, CA—Travis CU (TCU) announces the grand opening of its newest branch with a ribbon-cutting ceremony and a declaration of “Travis Credit Union Day” by Lamar Hernandez-Thorpe, mayor of Antioch. Additionally, Travis CU made a $10,000 donation to Opportunity Junction, a local non-profit that helps motivated Contra Costa County job seekers develop the skills and confidence to launch careers that lead to financial security.

Global CU Foundation

Gives $72,500 to Local Nonprofits

Provided by Global CU

The Global CU Foundation donated

$72,500 to community nonprofits in Alaska and Arizona. The April donations were part of the Foundation’s 2024 quarterly distribution of funds in support of its mission to aid needs-based organizations that benefit children, veterans, military personnel and their families, and local food banks and pantries.

“Organizations like these are vital to improving the lives of people in our communities,” said Noël Gabler, Executive Director, Global CU Foundation. “We consider ourselves very lucky to be able to help support their missions and look forward to the work they do in the future.”

Recipients of funds include:

$5,000 to Kid in the Corner—Kid in the Corner is a nonprofit organization in Arizona dedicated to promoting mental health awareness and supporting those struggling with mental illness—providing access to resources, promoting kindness, and fostering a supportive community.

$7,500 to Alaska Legal Services Corporation (ALSC)—ALSC offers free civil legal services to low-income and disadvantaged people, including veterans, to protect their safety, their health, and promote family stability—bridging the statewide gap between those who need civil legal help and those who are able to get it.

Service CU Volunteers at Landstuhl Fisher House Cleanup

Provided by Service CU

Service CU recently volunteered for a spring cleanup at the Landstuhl Fisher House in Germany, which provides free accommodations for families of sick and injured soldiers treated at the Landstuhl Regional Medical Center. Employees from Service CU cleaned the yards of both LFH homes, and Service CU made a $5,000 donation to support the daily operating expenses of the Fisher House, covering essential costs such as utilities and maintenance. This contribution will help maintain the Fisher House as a safe and comfortable haven for military families.

$60,000 to Armed Service YMCA (ASYMCA) of Alaska—The ASYMCA of Alaska empowers military families, no matter who they are or where they’re from, by ensuring access to resources, relationships, and opportunities for all to learn, grow, and thrive.

Noël Gabler (right), Executive Director, Global Credit Union Foundation, presents $60,000 to Sarah Riffer (left), ASYMCA of Alaska’s Executive Director. Photo provided by Global CU Foundation.

Amanda Timm

Cobalt CU Empowers Service Members in Financial Wellness

Provided by Cobalt CU

Cobalt CU VP of Operations, Amanda Timm, recently visited Offutt Air Force Base to deliver a Finance 101 presentation to the airmen stationed there. The presentation covered crucial topics such as budgeting, investing options like TSP, 401k, and IRA, strategies to make money work effectively for our servicemen and women, and insights into consumer credit management. This initiative aimed to empower our airmen with valuable financial knowledge to support their financial wellbeing throughout their service.

SAC Foundation Prepares and Donates Bags to Deploying Airmen

Provided by Cobalt CU

This past April Cobalt CU’s charitable arm The SAC Foundation proudly completed its second round of deployment bags of 2024 in support of deploying airmen stationed at Offutt Air Force Base. Through this initiative, 75 Deployment Bags have been meticulously prepared to offer comfort, convenience, and essential items to our service members as they embark on their deployment missions. In addition to the bags for airmen, bags have also been made for their spouses, as gratitude to their scarifies as their loved ones are away.

Credit Union West Donates Over $9,400 to Soldier’s Best Friend

Provided by Credit Union West

Credit Union West employees partnered with the CU West CARES Charitable Foundation to donate $9,489.04 to Soldier’s Best Friend, an Arizona-based nonprofit organization dedicated to pairing and training service dogs with eligible veterans at no cost to the veteran. Soldier’s Best Friend is not only devoted to helping military veterans living with post-traumatic stress disorder or traumatic brain injuries, but they are also committed to rescuing dogs from shelters across the state. Their program pairs veterans with a dog adopted by from a local shelter or with a dog already owned by the veteran. They will live and train together from that point forward.

“Veterans come into our program because they just want to be able to go to their child’s little league game or go to the store, but their trauma prevents them from doing these things,” said Mik Milem, Executive Director of Soldier’s Best Friend. “We are so thankful for this gift and for the continued support from Credit Union West that allows us to impact so many lives.”

This is the first donation from the credit union’s EmployeesCARE Program in 2024 and the largest in the program’s history. The program is funded solely through employee donations and benefits four local, nonprofit organizations each year. The funds for this donation were generously matched dollar for dollar by contributions from the CU West CARES Charitable Foundation and from President/CEO, Karen Roch’s own personal funds.

“At Credit Union West, our military roots run deep so we are proud to support the important work that Soldier’s Best Friend does for the veterans in our community,” Roch said. “The generosity of our employees continues to impress me and with the launch of our CU West CARES Charitable Foundation, their impact can go even further.”

To learn more about Soldier’s Best Friend, visit their website at soldiersbestfriend.org

REV Partners with Duke Energy and WARM NC to #UpTheGood in Columbus County

Provided by REV FCU

On a 90-degree day in Whiteville, NC, team members from REV FCU and Duke Energy came together to rehabilitate the home of a Columbus County community member who is a special forces Veteran. The homeowner had applied for help through WARM NC which stands for the Wilmington Area Rebuilding Ministry and whose mission is to repair, rebuild, and make homes accessible and safe for home owners. They serve seven counties including Columbus, Bladen, Brunswick, Duplin, New Hanover, Onslow, and Pender.

Dori Bishara, Community Engagement Coordinator for REV, organized this volunteer day with Pam Hardy, District Manager for Duke Energy. Both companies serve Columbus County and REV has a branch location in Riegelwood, NC. “As we planned the volunteer day and after speaking with Kim Gore, Chief Operations Officer for WARM, we discovered that there is a challenge in recruiting volunteers in our more rural counties,” said Dori Bishara.

In the spirit of building partnerships, an invitation was extended to the Columbus County Chamber of Commerce to volunteer alongside team members from REV and Duke Energy. Chamber President, Joan McPherson, and Board Member, Cynthia Ellis rolled up their sleeves alongside REV team members from Riegelwood, Whiteville, and as far as Charleston, SC to pitch in on the construction project which included building an ADA ramp to the home. Dori Bishara also shared, “REV believes in improving the financial wellness of others and in building resilient communities. Working together with companies like Duke Energy and the Chamber will help us make a bigger impact.”

As part of the volunteer day REV donated $3,000 to WARM NC to help to fund future projects. Duke Energy was able to offer a grant for $5,000 as part of their Vibrant Communities efforts. There are waiting lists in all counties for families that need assistance from WARM and those interested in donating their time or money can learn more at www.warmnc.org.

Tower FCU Shred Day Event Helps Fight Fraud & Identity Theft

Provided by Tower FCU

Tower FCU hosted its free annual Shred Day event on May 4, 2024, at its Laurel, Md. branch to allow members to safely dispose of personal documents and help keep sensitive information out of the hands of fraudsters. More than 18,000 pounds of paper were shredded during the event.

“Shredding documents is a safe way of discarding and destroying sensitive personal documents, and helps guard against fraud and identity theft,” said Rick Stafford, Tower’s president/CEO. “Our annual Shred Day is an opportunity for our members and the community at large to dispose of their documents securely, while having some fun at the same time, and to raise awareness of how we each need to do our part to fight fraud.”

Tower FCU employees were on hand to assist members with securely disposing of sensitive documents to help prevent identity theft at Tower’s annual Shred Day event.

Photo provided by Tower FCU.

Andrews FCU Supports Cherry Blossom Run Through Contributions and Volunteerism

Provided by Andrews FCU

The Credit Union Cherry Blossom Run is one of the most iconic and beautiful races in the nation, and the Andrews FCU team contributed to making this year’s race another strong success.

Andrews Federal made a substantial financial donation toward the race, which benefits Children’s Miracle Network Hospitals. In addition to the monetary donations, credit union team members were up bright and early to volunteer at race stations and encourage the runners along the 5K and 10K courses.

According to credit union leadership, events like the Cherry Blossom Run are especially meaningful because they invoke the power of the credit union industry’s most valuable asset—its people.

“We are honored to contribute to the Credit Union Cherry Blossom Run’s success and to provide valuable support for Children’s Miracle Network Hospitals,” said Ken Orgeron, president/CEO of Andrews FCU. “Our employee team exemplified the credit union motto of ‘people helping people’ as they spent their weekend providing support for the race efforts, and we appreciate their diligence and dedication.”

PenFed Foundation Celebration of Service Gala Raises Nearly

$1.4 Million for

Military Community

Lifetime of Service Award Honors PenFed Foundation Board Chair Deborah James

Provided by PenFed CU

The PenFed Foundation announced it raised nearly $1.4 million at its Celebration of Service Gala. The evening honored humanitarian and community heroes, including PenFed Foundation Board Chair and former Secretary of the Air Force Deborah James. James was presented with the Lifetime of Service Award for her dedication to the nation as the second woman in history to lead a branch of the U.S. military, a key defense industry executive and Assistant Secretary of Defense and long-time congressional staff member.

“The PenFed Foundation is proud to continue its legacy of serving the brave men and women who defend our nation and appreciates the generosity and patriotism of our donors for supporting our military community,” said PenFed CU president/CEO and PenFed Foundation CEO James Schenck. “It was an honor to recognize Debbie James for her lifetime of service. I have known Debbie for over 20 years and have learned so much from her extraordinary leadership skills.”

In addition to Secretary James, the PenFed Foundation honored:

• Renata Parras with The Mary Boies Humanitarian Award for providing legal services to ensure safe futures for Afghan women military allies. Parras partnered with other law firms to create a legal task force to ensure the safety and future of 43 members of an all-female tactical combat unit in Afghanistan who provided critical help to U.S. troops.

• Carmen Rosario with the National Community Hero Award for serving as the first woman commander of The American Legion Puerto Rico and being a true advocate for our country’s military veterans and fighting for the rights and benefits owed to them.

PenFed Foundation Chair and Lifetime of Service Honoree Deborah James, PenFed CU president/CEO and PenFed Foundation CEO James Schenck, Humanitarian Mary Boies, Mary Boies Humanitarian Award Honoree Renata Parras and PenFed Foundation President Andrea McCarren. Photo provided by PenFed Foundation.

The PenFed Foundation also provided the American Legion post in Puerto Rico with a $25,000 grant to support its efforts across the island.

• Air Force Sergeant Michael Brennan with the National Community Hero Award for advocating for service dogs for veterans. Brennan served in the Middle East and witnessed significant trauma and is the recipient of a Canine Companions service dog. PenFed Foundation provided Canine Companions with a $25,000 grant in honor of Brennan and he will also receive the privilege of naming a service dog.

• Erik Brine and Rob Raymond, founders of Operation Encore, with National Community Hero Awards for helping veteran and active-duty musicians take their music to the next level through artist development and studio time. As part of the award, Operation Encore received a $25,000 grant from the PenFed Foundation.

“The PenFed Foundation is grateful to our supporters and we are thrilled to celebrate all of our honorees,” said PenFed Foundation President Andrea McCarren. “They are an inspiration and epitomize our mission of helping to ensure the transition of veterans from military service to success in their civilian lives.”

PT Bratton, a military veteran and former pastor who headlines events all over North America and has appeared on multiple television networks, served as the master of ceremonies.